| ▲ | exceptione an hour ago | |
> Yet it out innovates all of Europe, Canada, Australia, other places that have incredible social "safety nets". Probability: highly unlikely. Speaking for Europe, I see a lot of silent innovation. No press, no LinkedIn posts, not an article on their website. There are a lot of US firms that shop in Europe for high tech. (I know of instances were the US company buys the IP from the EU supplier + take public credit for it + forbids the supplier for showcasing their success in public.) What is different is: 1) the amount of money available in the US. The US enjoyed a very beneficial position post-WOII, enabling them to run high deficits. 2) the US has a positive attitude to entrepreneurship. You are not a failure when your company goes bankrupt, you learn from it and you go-go-go. | ||
| ▲ | enaaem an hour ago | parent | next [-] | |
Also the EU lacks a unified capital market where infinite VC money can be pooled together into any new hype. I would argue this the biggest reason. | ||
| ▲ | lanfeust6 22 minutes ago | parent | prev [-] | |
Productivity is lacking in those other countries. That said, I don't think it has to do with safety net, which is not much different in the U.S. | ||